MOUNDRIDGE, Kan.--(BUSINESS WIRE)--Aug 25, 2022--
Through its wholly-owned subsidiary Tortilla King, Flagship Food Group announced today that it has acquired approximately 18 acres of land adjacent to its manufacturing site in Moundridge, Kansas and that its board has approved a multi-phase expansion of manufacturing capabilities at the site. Phase one of the expansion is already under construction and will increase its flour tortilla manufacturing capacity by 25%. Future phases of the expansion are expected to increase the company’s manufacturing capacity for tortilla chips, snacks, and frozen foods. The Company is also planning to develop additional frozen and dry warehouse and distribution capacity.
Flagship’s Mama Lupe’s, La Tortilla Factory, Lilly B’s, and Hatch Kitchen brands are expected to benefit from the investment and increased capacity.
“Flagship acquired our business last year with plans to expand on our site,” said Juan Guardiola, President of Tortilla King. “It didn’t take long for our collective team to decide that our centralized location, great people, and ample space for growth made the business case to expand our operation.”
Today, Tortilla King employs approximately 130 people and runs five food manufacturing lines. The multi-year expansion plan calls for more than doubling both employment count and capacity.
“Over the past couple of years Flagship has made several plant and manufacturing investments to support our brands and our customers. Service levels and reliability have set us apart, and we look forward to utilizing this facility expansion to better serve our customers,” said Forrest Kragten, Principal at CREO Capital Partners. CREO is the financial investor behind Flagship and Tortilla King.
As part of the inward investments approved by the Flagship board, expansions are also planned for the company’s manufacturing sites in California and New Mexico.
“As we build one of the leading premium CPG food companies focused on the Hispanic sector, we’re actively investing our capital to grow our facilities. We expect to significantly increase our employment numbers in Kansas and across our other sites,” said Rob Holland, Executive Chairman of Flagship Food Group.
About Flagship Food Group
Flagship Food Group is a premium and Hispanic foods focused diversified food company that manufactures, sells, and distributes food products under the 505 Southwestern, Lilly B’s, Hatch Kitchen, Mama Lupe’s, TJ Farms, La Tortilla Factory, and other brands. The Company also partners with leading food retailers to develop R&D-driven private label programs, and provides food logistics, warehousing, and freight management services within the food industry. The Company operates facilities and offices in or near Boise, ID; Denver, CO; Albuquerque, NM; Santa Rosa, CA; San Francisco, CA; Minneapolis, MN; and Moundridge, KS.
About CREO Capital Partners
CREO Capital Partners is a Denver, Colorado-based investment firm exclusively focused on the food and consumer products industry segments. Founded in 2005, the firm has successfully invested in over 20 food companies in the USA and the UK and focuses on partnerships with outstanding management and premium brands. Investments have spanned the branded retail, private label, food logistics, and food distribution industry sub-segments. With many of its investments held via its diversified food business, Flagship Food Group, CREO actively seeks dialogue with food companies that have an interest in joining in the Flagship journey.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220825005630/en/
CONTACT: Courtney Lis
VOCA Public Relations
970.581.6231
courtney@vocapr.com
KEYWORD: KANSAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL COMMERCIAL BUILDING & REAL ESTATE SUPERMARKET CONSTRUCTION & PROPERTY
SOURCE: Flagship Food Group
Copyright Business Wire 2022.
PUB: 08/25/2022 01:48 PM/DISC: 08/25/2022 01:48 PM
http://www.businesswire.com/news/home/20220825005630/en
